Foxconn unit in advanced talks to buy stake in S&T

Austrian IT group S&T AG (SANT1.DE) said Taiwan's Ennoconn (6414.TW), an arm of the world's largest contract electronics manufacturer Foxconn, is in advanced talks to take a near 30 percent stake.

S&T said in a statement on Wednesday that it will issue new shares that will be bought by Ennoconn, amounting to a 10 percent stake and Ennoconn will buy more shares from S&T's major shareholders to raise its stake to nearly 30 percent.

S&T said it plans to use the capital from the Ennoconn deal to buy a 29.9 percent stake in German embedded computer technology provider Kontron (KBCG.DE).

Next In Deals

ZURICH Novartis is in talks about the sale of some older neuroscience drugs, people close to the matter said, as the Swiss drugmaker clears the decks to concentrate on promising new medicines it hopes will help to restore sales growth.

U.S. President-elect Donald Trump's plan to incentivize U.S. companies to repatriate their swelling overseas cash piles could spur a new wave of dealmaking in a pharmaceutical industry seeking to buy its way into growth.

HONG KONG Fosun International Ltd , China's biggest privately-owned conglomerate, is known globally for its bold dealmaking, including the tenaciously successful pursuit of French resort operator Club Med.